Sharekhan has given Hold recommendation for Wipro with a target price of Rs. 750 in its research report issued on Nov 22, 2021

Sharekhan’s research report on Wipro

Wipro has progressed well on its strategic priorities including acceleration in revenue growth, aggressive hiring of senior talent, improving large deal win momentum, a larger pipeline in Cloud and a lean organizational structure over last one year. Wipro aspires to be lead in terms of global industry growth and a leading technology transformation orchestrator for clients or new business models of clients. Though Wipro is progressing well in its turnaround journey, we believe that a valuation of 23x FY2024E factors in its growth potential. USD revenue growth likely to clock CAGR of 10.4% over FY2022-FY2024E.


We maintain a Hold on Wipro with an unchanged PT of Rs. 750 given an unfavourable risk-reward ratio and supply-side challenges in the near-term.

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